- Semiconductor technology and equipment firm Revasum (RVS) has placed its shares in a trading halt ahead of an upcoming capital raise
- The trading halt is expected to be lifted on or before February 1 when a formal announcement is made regarding the raise
- The company has not yet indicated exactly how much it hopes to raise or what the funds will be used for
- 2020 proved to be a difficult year for Revasum in terms of revenue, which was down 25 per cent on FY19
- Prior to the trading halt, Revasum shares last traded at 51 cents each.
Semiconductor technology and equipment firm Revasum (RVS) has placed its shares in a trading halt ahead of an upcoming capital raise.
The ASX-lister announced to the market that its shares would remain in a trading halt until February 1 when a formal announcement is expected to be made regarding the raise.
At this stage, RVS has not revealed any explicit details as to how much it is seeking to raise or how the funds would be utilised.
In terms of recent news for the company, it released unaudited preliminary results for the financial year ended January 3, 2021.
RVS' total revenue came in at US$15.4 million (roughly A$20.2 million), representing a 25 per cent decrease on FY19, which the company attributed to weaker customer demand during the earlier months of COVID-19.
FY20 also saw RVS ship its first 6EZ Silicon Carbide (SiC) Wafer Polisher (“6EZ”) to a major global semiconductor wafer manufacturer for a six-month evaluation program, representing a significant step towards commercialisation of the 6EZ.
This capital raise is set to be RVS' first of 2021.
Prior to the trading halt, Revasum shares last traded at 51 cents each.